Tag: SNAP

Blue Horseshoe Stocks: Form-4 Alert & More

Snap, Inc. SNAP – Update

Even as the markets got crushed yet again yesterday despite it appearing as if the worst of the downturn was over, SNAP still managed to produce gains in our updated options trading targets.

It was in our premarket report yesterday that we were updating readers on the previous idea we had with the SNAP $16-17.50 Calls, which made moves ranging from 335-700% the day prior.

The stock had risen by such a large margin that we rolled up our potential strike prices to the $21-22.50 levels, and we got very nice activity out of half of those calls to keep our success with the SNAP options chain rolling.

The $21 Calls ran from .04-.32, for a fantastic 700% rip, while the 21.50’s made a 400% from .03-.15.
________

Fresh Options Idea:

Provided the SPY holds above 259.50 we’ll be interested in the SPY Weekly $260.50-262 Calls*

*Please do not attempt to trade weekly options on a Friday unless you are an expert level trader with disposable funds.


LendingClub Corp. LC

With turmoil in the markets persisting, this is a time when we want to stick to our technicals, and look for stocks that are currently boasting the type of chart setups we routinely scan for, and LC currently matches the profile.

The stock has come down to double-bottom with a gap to fill to the upside, as you can see on the included snapshot. We feel that over the next few weeks, LC could be in line for a solid recovery.

In addition to the stock itself, we’re going to radar a pair of options contracts to track over a more extended period of time, with the LC 03/16 $3.50 & $4 Calls.

Seattle Genetics, Inc. SGEN – Form-4 Alert

While we’re on the subject of bottom-plays, we’ve got SGEN hitting our scanner this morning. We’ll include a chart snapshot of this one as well, so you can see what we find so attractive about it. We’ve got a triple-bottom formation happening with the stock coming down to he $50-range, and a recent track record of the type of volatility we’re after.

To sweeten the pot, a major Form-4 buy came in the last week at $52, to the tune of $200M (View EDGAR Filing) in addition to a multi-program immuno-oncology collaboration with Pieris Pharmaceuticals announced this morning.

We’re going to track the SGEN 03-16 $50 Calls in the days and weeks ahead.

Extended Watchlist:
PIRS, AVIN, CTRL, CFMS, CNET, INPX

Blue Horseshoe Stocks: SNAP Rocking & More

Snap, Inc. SNAP

After we signaled our interest in a range of SNAP calls yesterday morming, the stock turned in quite a performance. In fact, SNAP ended up being the top gainer on the NASDAQ for the session.

That activity paved the way for some excellent intraday moves for our designated contracts, the SNAP Weekly $16-17.50 Calls, which all more than

$16 Calls – Range: 1.15-5.00 – Max Gain: 335%
$16.50 Calls – Range: .93-4.38 – Max Gain: 371%
$17 Calls – Range: .50-4.00 – Max Gain: 700%
$17.50 Calls – Range: .45-3.51– Max Gain: 680%

We feel good about a continuation of the same kind of volatility we saw with SNAP yesterday, and will roll up our potential strike prices, and begin to monitor the SNAP Weekly $21-22.50 Calls as we finish out the week.
_______________

Fresh Options Idea:
GrubHub, Inc. GRUB – Weekly $80-85 Calls
Twitter. Inc. TWTR – Weekly $31-33 Calls

Biocept, Inc. BIOC

We want to keep tabs on BIOC after the announcement of a public offering precipitated what we would consider an over-reactionary selloff.

The company raised a sum of roughly $14.8M after offering approximately 32M shares at an exercise price of .45, along with immediately exercise-able warrants to purchase another 32M shares at .50.

We would classify it fall to a new annual low of  .30 yesterday as a kneejerk response, and with the stock being this heavily oversold, we’ll want to put this one on bottom-bounce watch immediately.

Extended Watchlist:
TEUM, SNCR, FOLD, SWN, GCAP, NETE, RIOT, ONTX

Blue Horseshoe Stocks: Options Review & More

Lumentum Holdings Inc. LITE

We noted yesterday morning that LITE was bucking trend of the two-day market bloodbath we witnessed this week. We made it clear that we were interested in the LITE Weekly $44-46 Calls regardless of which way the markets went, and it turned out to be a solid idea.

The markets did of course see a reversal, and LITE did perform well on the day, creating the following gains in our tracked contracts:

$44 Calls – Range: 2.00-8.00 – Max Gain: 300%
$45 Calls – Range: 2.50-6.98 – Max Gain: 179%
$46 Calls – Range: 1.25-6.00 – Max Gain: 380%

________

Fresh Options Ideas:

The Walt Disney Co. DIS – Weekly $107-109 Calls
Snap, Inc. SNAP – Weekly $16-17.50 Calls

Quotient Ltd. QTNT

Another stock we went bullish on in yesterday morning’s report, despite coming off the biggest two-day losses for stocks in history, was QTNT.

It boasted a solid bottom setup, and had already exhibited some bottom-bounce activity in the prior session. It also performed well on the day, trading up from a low of 3.36 to a high of 4.39- a respectable intraday run of 31%  We’ll look for the stock to establish a trend of higher highs and higher lows over the next few sessions.

Extended Watchlist:
RIOT, NETE, DRYS, DPW, MARA, CFRX